Demo

Vendor Management Analyst

Sandy Spring Bancorp
Rockville, MD Full Time
POSTED ON 2/8/2025
AVAILABLE BEFORE 5/8/2025

About Us :

Are you someone who seeks opportunity and has a true desire to grow your career with an organization that has enriched the lives of its clients and communities in the Greater Washington region for more than 150 years? If so, Sandy Spring Bank may be the perfect fit for you!?

Sandy Spring Bank is a growing financial services company focused on creating real experiences for our employees, clients, shareholders and communities. ?We are proud to have been certified as A Great Place To Work , recognized by The Washington Post and the Baltimore Sun as a Top Workplace, by Forbes magazine as the #1 Bank in Maryland. It is our employees who play an integral role in shaping who we are as a company and upholding what matters most to us : people and relationships.?

To help us attract the highest quality individuals, we offer a comprehensive benefits package to those who qualify. We offer competitive market salaries, paid time off, multiple retirement savings options, full health care options, life insurance, health care and dependent care flexible spending accounts, career development opportunities, tuition assistance and volunteer opportunities. We are proud to offer those, and so much more, making Sandy Spring Bank a remarkable place to work and build a career.

About the Job :

Sandy Spring Bank is hiring for a Vendor Management Analyst. The Vendor Management Analyst (VM Analyst) supports the Banks vendor management program (VM) and will be involved with all vendor third-party management activities. The VM Analyst is responsible for working across the company to establish and operate a sustainable vendor third-party management policy and program that supports the projected growth of the company and aligns with banking regulatory expectations and requirements. The VM Analyst reports directly to the Vendor Management Manager (VMM) but will support and interact with a variety of personnel both within the VM function, the Risk Department, as well as different departments. In addition, the VM Analyst is tasked with compiling data and completing documentation related to vendor third-party risk, as well as ensuring that the issues that arise are appropriately captured, assessed and mitigated to acceptable levels. The VM Analyst performs the following duties.

MAJOR JOB ACCOUNTABILITIES :

  • Support the VMM (Vendor Management Manager) with administration and analysis within VM program
  • Support the risk assessment and vendor due diligence processes as directed by VMM to ensure timely onboarding of new vendor third-party relationships and appropriate monitoring and periodic assessment of existing relationships. This includes gathering and review of due diligence documents.
  • Develop into the Vendor Management subject matter expert on the Banks VM system particularly regarding data / record relationships within the VM module and report development.
  • Develop, prepare and / or coordinate reporting for management, risk committees, and other stakeholders, as necessary, using VM System and qualitative analytics in Excel, PowerPoint Word, and other formats as needed
  • Support the VM governance process, including the vendor onboarding risk analysis process, periodic risk assessments, maintenance of vendor inventory, escalation and monitoring of the remedial actions taken to ensure maintenance and / or review results are properly and timely addressed.
  • Assist in preparing relevant metrics and reporting packages as needed, including reporting packages for the Vendor Management and other Operational & Board Risk Committees.
  • Organize and maintain records for corrective action / risk mitigation initiatives and activities related to the VM program.
  • Establish and maintain relationships with business teams, providing customer service related to data, risk assessments or general risk-based inquiries and guidance to business units and external vendors during the vendor risk assessment lifecycle.
  • Track and monitor contract changes, deliverables, correspondence, and risks, and maintain associated documentation. Monitor and track vendor performance and ensure proper record keeping and documentation.
  • Maintain a system for centralized contract management. Track and monitor termination / renewal dates, contract changes, deliverables, correspondence, and risks and maintain associated documentation.
  • VM Analyst may be requested on occasion to perform activities related to other Risk Department programs and / or functions, which will provide cross-training and career opportunities.
  • Seek to understand and apply relevant banking regulatory and legal compliance requirements.

Required Skills :

  • Bachelors degree required, preferably within risk management, business, or finance.
  • 2-3 years of prior bank or financial services industry, vendor third-party management, compliance, third-party contract administration, or procurement work experience is preferred.
  • Ability to communicate effectively both verbally and in writing with skill in preparing clear written deliverables and presentations.
  • Intermediate skills with Microsoft Excel, PowerPoint and Word, preferred.
  • Experience with Vendor / Third-Party Risk Management software tools preferred.
  • Desire to learn and understand processes with an ability to translate what is learned into actionable tasks, recommendations, and output.
  • Ability to demonstrate effective organization, critical thinking, analytical and problem-solving skills with flexibility in a continually changing environment.
  • Ability to demonstrate initiative to accomplish work objectives independently with effective time management skills and ability to manage multiple tasks with exacting deadlines in a fast-paced environment.
  • Ability to work effectively in a team environment and champion new ideas and approaches throughout the organization.
  • SPECIFIC PHYSICAL REQUIREMENTS :

    Work requires reasonable mobility in and around the work area. Ability to use standard computer and phone systems is required

    WORKING CONDITIONS :

    Normal office environment where there is almost no discomfort due to temperature, dust, noise, or other disagreeable elements.

    Work includes little or no potential exposure to hazardous conditions.

    Must be able to travel to remote company and / or client locations.

    The above statements are intended to describe the general nature and level of work being performed by people assigned to this classification. They are not intended to be construed as an exhaustive list of all responsibilities, duties and skills required of personnel so classified.

    Compensation Information :

    At Sandy Spring Bank, compensation is one part of our total rewards package. Compensation within the range will depend on your skills, qualifications, education, experience, and location. Additionally, full-time and part-time positions may be eligible to participate in department or company-wide incentive plans.

    Additional Information :

    Sandy Spring Bank provides equal employment opportunities to all employees and applicants for employment and prohibits discrimination and harassment of any type without regard to race, color, religion, age, sex, national origin, disability status, genetics, protected veteran status, sexual orientation, gender identity or expression, or any other characteristic protected by federal, state or local laws.

    This policy applies to all terms and conditions of employment, including recruiting, hiring, placement, promotion, termination, layoff, recall, transfer, leaves of absence, compensation and training.

    If you require a reasonable accommodation to apply for a position, please call our job line at 1-800-399-5919 and select option 5. Requests are considered on a case-by-case basis.

    Sandy Spring Bank partners with various job boards to advertise our openings. Please visit our website, www.sandyspringbank.com to confirm the validity of the job posting to avoid any potential fraudulent activity. We encourage and recommend all candidates to apply via our website.

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